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عرض النتائج للدليل 'exempt supplies'.
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There are mainly three types of VAT in UAE. That is Standard Rate, Zero Rated and Exempt Supplies 1. Standard Rated and Zero Rated are taxable supplies while exempt are non - taxable supplies 2. On Zero rated supplies there is not vat but it is still considered as taxable supplies 3. When we are calculating the revenue we should also consider zero rated sales for registration purposes and we must have to mention the total amount of zero rated sales in vat return of each quarter 4. We can claim input vat on zero rated sales just like standard rated sales. We can only not claim Input vat on exempt sales 5. If the supply is zero rated or exempt. Zero rated will always take priority -
The final point is whether or not the supply is a taxable supply. Once it has been established that there is a supply we then need to determine whether the supply is taxable, exempt or outside the scope of VAT completely. Taxable will be at one of the two rates of VAT, the basic-rate and a zero-rate. The basic-rate is 5% and the zero-rate is 0%. Arts. 30-41 of the Regulations sets outs the conditions for zero-rating and the supplies that are zero-rated supplies and includes exports of goods from the UAE, services provided to non-GCC residents, international transport of goods and people, supply of precious metals, supply of new residential buildings, healthcare, etc. The legislation also outlines which supplies are exempt supplies in Arts. 42-45 of the Regulations. These include financial services, residential buildings, bare land and local transport of passengers. The transfer of an economic activity subject to certain conditions, and intra-VAT Group supplies are outside the scope of VAT. For there to be a supply that merits a charge to VAT, all five conditions must be met.